Back
23 Sep 2013
Flash:EUR/USD barely blipped higher in early Asian trade this morning-OCBC Bank
FXstreet.com (Athens)- Emmanuel Ng of OCBC Bank, recommends that the German Chancellor Angela Merkel secured a landslide victory (42% by the CDU/CSU) according to partial results), but the EUR/USD barely blipped higher in early Asian trade this morning.
Key-Quotes:
“Apart from the German election news flow, look also to the EZ PMIs today and the German Ifo tomorrow to provide further direction for the pair. The ECB’s Draghi also makes an appearance today and further dovish rhetoric cannot be ruled out, especially in light of the Fed last week.”
“We stay constructive on the pair in the near term with 1.3570 expected to be a near term cap, although a retracement back towards the 1.3500/10 region or base building purposes cannot be discounted.”
Key-Quotes:
“Apart from the German election news flow, look also to the EZ PMIs today and the German Ifo tomorrow to provide further direction for the pair. The ECB’s Draghi also makes an appearance today and further dovish rhetoric cannot be ruled out, especially in light of the Fed last week.”
“We stay constructive on the pair in the near term with 1.3570 expected to be a near term cap, although a retracement back towards the 1.3500/10 region or base building purposes cannot be discounted.”